Chiming in here... I have a '72 and the light in question is a brake warning. Check the level of fluid in the brake reservoir like Ray suggested. There is a float inside the cap that triggers a light when the fluid level drops, as in when pads wear and the caliper pistons move out to compensate. If the fluid adjustment does not fix it, then look at your E-brake and make sure it is releasing completly. If so, the switch may need to be adjusted slightly. If the fluid level adjustment fixes it, then consider looking at your brakes, the pads may be wearing down. If you replace them, then you'll have to remove some of the fluid you added or it will over-top the reservoir. Remember, brake fluid will remove paint, be careful.

If none of the above fixes the problem, look for a leak, and do it now.

230/8